Net profit was DKK 1,828 million (€245.8m), an increase of 13% compared to 2010

“I’m delighted to report that we delivered on our full-year growth expectations despite the uncertainty about the global economic situation,” says Steen Riisgaard, President & CEO.

“The uncertainty is expected to continue in 2012 and, although the characteristics of our products, the many different industries we serve, and the way the business operates have made Novozymes’ sales and earnings fairly resilient in previous economic downturns, we currently see scenarios at both the high and low end of the guidance.

"On the development side, I’m particularly excited that one of our partners in cellulosic ethanol is scheduled to open the world’s first commercial-scale production facility in 2012 in Italy. More plants will follow in the years to come, and Novozymes is ready and well positioned to supply the producers with the right enzymatic solutions, regardless of substrate and production technology.

"To sum up, although 2012 looks to be another uncertain year with respect to the global economy, it's also set to bring some very exciting developments with the focus remaining on innovation, market presence, and operational excellence,” Riisgaard said in a press release.